RE:RE:lot of noise I've only been in VGCX for just over a year, so i'm mostly looking at the current production issue that created the Q3 production setback, in terms of my assessment of transparency.
Clearly I've touched a nerve ;)
I think that on the conference call they provided a description that satisfied me. I don't know how many other screw ups there were in building the mine, but what happened doesn't surprise me. Wrong hp in the motors, liner not living up to expectations. This kind of stuff happens on new building in downtown Toronto all the time. I also spent a couple of years on site for the build of a new paper mill.
They fixed it on the fly, replacing motors and liners, and I think I heard somewhere they are in legal fight with someone-- maybe that's the contractor. They stacked ore that couldn't get to the mill. They drilled Raven and updated. They have over 500 new employees. They did these things during COVID, in the Yukon. They provided monthly updates to the corporate presentation showing 65% fixed, then 95% fixed.
Then they make a point of saying that they haven't changed annual guidance as their response to being questioned about the future impact of the issue.
It's a conveyor. Not sure what else could go wrong with it that could lead to them not meeting their numbers now that it's 95% fixed. Otherwise it's a low risk strip mine and on the conference call they provided numbers saying everything else was on track with predictions.
I don't know about years previous, but for this problem, I'm not sure what more they owe investors in terms of transparency because few investors could even use information deeper than this.